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A propos du rôle (dé)stabilisateur de l'hétérogénéitédans les économies à générations imbriquées

Stefano Bosi () and Thomas Seegmuller ()
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Stefano Bosi: EPEE - Centre d'Etudes des Politiques Economiques - UEVE - Université d'Évry-Val-d'Essonne, EQUIPPE - Economie Quantitative, Intégration, Politiques Publiques et Econométrie - Université de Lille, Sciences et Technologies - Université de Lille, Sciences Humaines et Sociales - PRES Université Lille Nord de France - Université de Lille, Droit et Santé

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: A large literature has tried to find conditions such thatexpectations-driven fluctuations and endogenous cycles appear, but only few articles have focused on the role of consumers' heterogeneity. In our paper,we address this issue by considering an overlapping generations economy with endogenous labor supply. Introducing a variation of heterogeneity, whilekeeping the mean as constant, we show that a greater or a weaker dispersion does not affect the local dynamics. Therefore, in our framework, therepresentative agent is a good representation of an heterogeneous population.

Keywords: Indétermination; cycles endogènes; hétérogénéité; générations imbriquées; Indeterminacy; endogenous cycles; heterogeneity; overlapping generations (search for similar items in EconPapers)
Date: 2007
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Published in Revue Economique, Presses de Sciences Po, 2007, 58 (3), pp.629-636

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